Which of the following best describes the manager of a profit center?
A) The manager is only responsible for controlling costs.
B) The manager is responsible for generating profits and efficiently managing the center's invested capital.
C) The manager is only responsible for generating revenues.
D) The manager is responsible for generating revenues and controlling costs.
D
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Richards Company, a calendar-year company, sells magazine subscriptions to subscribers. The magazine is published semiannually and is shipped to subscribers on April 1 . and October 15 . Only one-year subscriptions for two issues are accepted. Subscriptions received after the March 31 and September 30 cutoff dates are held for the following publication. Cash is received evenly during the year and
is credited to deferred subscription revenue. During 2013 . $3,600,000 of cash was received from customers. The beginning balance for 2013 of the deferred subscription revenue account was $750,000 . What is Richards' December 31 . 2013 . deferred subscription revenue balance? a. $2,700,000. b. $1,800,000. c. $1,650,000. d. $900,000.
Use consistent ________________ to indicate changes or corrections to text
a. record keeping b. sentences c. proofreading symbols d. timing
The DuPont system merges the income statement and balance sheet into two summary measures of profitability, ________
A) net profit margin, and return on total assets B) net profit margin, and return on equity C) return on total assets, and return on common equity D) net profit margin, and price/earning ratio
Thach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: Number of units in the job 30Total machine-hours 90Direct materials$630Direct labor cost$2,880 The unit product cost for Job T321 is closest to:
A. $51.50 B. $117.00 C. $58.50 D. $154.50